Eirene, you might want to check out a book called “Anna Banana: 101 Jump-Rope Rhymes” compiled by Joanna Cole. It doesn’t seem to have the rhyme you’re looking for, but it has a list of further sources at the back.

Chinese jump rope — I too am racking my brains trying to remember how we played. When I saw one in a toy store it brought back great memories and I bought one for my daughter… unfortunately those memories are very fuzzy. I think I remember playing a game where you stood on one foot and twisted the two sides of the elastic around your other ankle in various configurations (Cat’s Cradle for the feet?) and said a rhyme at the same time. I think one of the rhymes was M-I-S-S-I-S-S-I-P-P-I. By the last “I” in the rhyme you had to have your foot extricated from the elastics. Can anyone else add to this?